EU Commission seeks deal on Greece's loans next week

Markets Associated Press

The European Commission wants Greece's international creditors to agree as soon as next week on getting Greece its next batch of bailout loans since delays are hurting the economy.

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EU Commission vice president Valdis Dombrovskis said that next Thursday's meeting of eurozone finance ministers and international creditors in Luxembourg should provide the breakthrough for the Greek government, which he said had met the key conditions to get more money.

He told reporters: "We believe it is time to move to the next disbursement because this uncertainty which is dragging on is already starting to negatively affect the Greek economy and there is no objective basis for this."

Without the rescue loans Greece would struggle to meet a big repayment hump in July of some 7 billion euros ($7.8 billion).